BusinessBusiness RecoveryFailed directors should be retrained

Failed directors should be retrained

Failed company directors should be retrained according to R3, the association for business recovery professionals, which wants the government to impose basic business training or insist on proof of qualification.

R3 is pushing for the measures after it discovered in a survey that mismanagement has been the cause of almost 70,000 company collapses in the last ten years and that 47% of the failed businesses had suffered financial difficulties before.

The findings come as the government attempts to encourage enterprise by relaxing insolvency laws.

Roger Oldfield, former president of R3, said the government believed that removing the stigma of failure would be good for British business, but added that the real solution would be for the government to force retraining on failed directors or make it compulsory for directors to produce evidence of their business qualifications.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor